Location: Oconee County, SC | Metro: Oconee County, SC
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $690 |
| 1 Bedroom | $710 |
| 2 Bedrooms | $930 |
| 3 Bedrooms | $1,130 |
| 4 Bedrooms | $1,280 |
| 5 Bedrooms | $1,485 |
| 6 Bedrooms | $1,663 |
| 7 Bedrooms | $1,796 |
| 8 Bedrooms | $1,886 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $930 | $221,408 | 0.42% | F |
| 3BR | $1,130 | $393,547 | 0.29% | F |
| 4BR | $1,280 | $1,092,564 | 0.12% | F |
| 5BR | $1,485 | $1,656,751 | 0.09% | F |
U.S. Census Bureau data (2024)
The ZIP code 29672, located in Seneca, SC within Oconee County, stands out due to its unique demographic and economic characteristics. With a population of 12,750 residents, it has a relatively low rental rate at 16.1%, indicating that homeownership is more prevalent. The median income in the area is $90,650, which is above the national average, and the median home value is $547,321, suggesting a robust housing market where property values are significantly higher than the state and national averages.
When it comes to Section 8 voucher economics, the data reveals an interesting disparity between the Fair Market Rent (FMR) and the actual market rent. For fiscal year 2026, the FMR is set at $1,000, while the Zero Occupancy Rent Index (ZORI), which represents the market rent, is $1,604. This indicates that landlords participating in the Section 8 program in ZIP 29672 might face a shortfall if they rely solely on the voucher amount to cover their rental costs. However, the higher median home value suggests that there could be opportunities for landlords to diversify their investment portfolio beyond rental properties, potentially mitigating the impact of lower voucher rents.
The data signature for ZIP 29672 reads as stable, with a high median home value and a median income that exceeds the national average. This stability provides a favorable environment for long-term investments in both rental and owner-occupied properties. Despite the disparity between FMR and market rents, the overall economic health of the area supports a steady demand for housing, making it a reliable location for real estate investments.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.